Austria's Economy Grows Markedly Faster than the Euro Area Average. Business Cycle Report of August 2016

Economic activity in Austria is gaining further momentum. According to WIFO's latest Business Cycle Survey, business sentiment in some sectors in Austria is at an all-time high. Both manufacturing and construction as well as services companies currently report very buoyant business activity and are optimistic regarding their business outlook. In the second quarter, Austria was among the euro countries with the highest economic growth. Hence, labour market developments remained favourable. The global economy is also strengthening.